Report Overview

Increasing pressure on fresh water sources to meet the spurring demand for water from rapid urbanization, strict water conservation and discharge regulations, and climate change could boost the growth of Australia Water Storage System Market during the forecast period between 2023 and 2029.

Australia Water Storage System Market – Industry Trends & Forecast Report, 2029

Australia water storage system market size was estimated at USD 152.08 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects Australia water storage system market size to grow at a significant CAGR of 8.49% reaching a value of USD 282.59 million by 2029. One of the major factors influencing the adoption of water storage systems is the growing reliance on agricultural food products, combined with rising awareness about water conservation. They are commonly used in agriculture to water livestock, reduce erosion, and increase crop yields and production reliability. Because these systems provide secure access to water while also providing reliable storage, they are increasingly being used in fire suppression water tanks and the mining industry. Energy generation for the industrial and commercial sectors is another important application for large-capacity water storage systems. Several leading manufacturers are concentrating on improving the aesthetic appeal of their product variants. They are introducing water storage systems that can withstand chemicals found in water as well as extreme weather conditions like high temperatures and earthquake loads, which is expected to increase demand for these systems in the residential sector in the next few years.

Australia Water Storage System Market- Overview

When there is a shortage or low supply, a water storage system keeps the extra water and makes it available. It is utilized in remote locations with limited access to water sources. It is widely accessible in a variety of sizes, from industrial reservoirs to rain barrels and water tanks. Water tanks are one of these that are frequently used in domestic and agricultural settings. They aid in reducing the likelihood of algae growth, the need for chlorine treatment, and the expense of general maintenance. To increase their current customer base, several manufacturers are currently providing innovative coatings, like ceramic epoxy paints, in potable water storage tanks.

Growth Drivers

Recycling and reuse provide development opportunities.

The plastics market is currently being impacted by the rise in feedstock prices. Feedstock's excessive cost will raise the cost of intermediate and finished goods. The plastic value chain is becoming more circular, and recycled plastics may become more competitive in price. To support secondary plastics markets, policies such as plastics fees and recycled content targets can create financial incentives to limit the use and promote circularity. The recent decoupling of prices for primary and secondary polyethylene terephthalate (PET), as well as rising innovation in recycling technology, are positive indicators that these measures are assisting in bolstering secondary markets. Because finished goods will cost less due to the use of recycled plastics, the final product will be more affordable and favored.

Restraints

Tank and water quality issues

Delivering the best water possible to users is the aim of running water storage tanks. Inadequate tank design, poor upkeep, fauna intrusion, and improperly applied or cured coatings and linings, to name a few, can all affect the water quality in water storage tanks. Potable water towers should be inspected every three to five years, per a study. Along with the tank itself, potable water tank inspections are crucial for good water maintenance. Over time, sediment may build up near the bottom of tanks. Small amounts of silt have no impact on the structural integrity of the storage tank or the purity of the water. These elements may have an impact on the tank's capabilities and water quality.

Impact of COVID-19 on the Australia Water Storage System Market

Investments in the water sector are anticipated to decline due to the emergence of COVID-19. The high cost of downtime has made operational reliability even more crucial. These operational needs have been influenced by shifting demand patterns, supply constraints, and the various pandemic emergency responses governments have implemented. Municipalities will probably delay new capital projects as they prioritize operating expenses and emergency preparedness. Before returning to the levels anticipated before the crisis, capital expenditures in the water sector are anticipated to decline, according to research.

Australia Water Storage System Market

Segmental Coverage

Australia Water Storage System Market - By Material

On basis of the material, Australia water storage system market is divided into Concrete, Metal, Plastic, Fiberglass, and Others. During the forecast period, the plastic segment is expected to be one of the largest. Tanks with capacities of up to 20,000 gallons are made of plastic. Plastic tanks are suitable for storing water as well as chemicals such as chlorine, bleaches, and acids, and are mostly made of food-grade standard plastic using a rotational molding process. This helps to keep algae and other bacteria at bay in the stored water. A plastic storage tank is a huge container meant to store water for households, agriculture, irrigation, and industrial applications. Water tanks are made in a variety of styles to meet the needs of specific applications, with specialty models designed to meet specific criteria and regulations. Plastic water tanks are a broad category of plastic tanks used to store water.

Australia Water Storage System Market - By Application

On basis of application, Australia water storage system market is divided into Rainwater Harvesting and Collection, Fire Suppression Reserve and Storage, Portable Water Storage Systems, On-Site Water and Wastewater Collection, Hydraulic Fracture Storage and Collection, and Others. Rain tanks, rainwater harvesting tanks, and rainwater storage tanks are other names for rainwater collection tanks. In times of scarcity, dry weather, or contaminated water supplies, rainwater tanks are an effective way to supplement water sources. UV inhibitors in rainwater storage tanks protect the tank from sun deterioration, allowing it to be used both inside and outside. They have a long lifespan because they are resistant to impact, corrosion, and rust. There are rainwater tanks available with capacities ranging from 100 to 12,500 gallons. A method for gathering, storing, and reusing rainwater for domestic or industrial purposes is called rainwater harvesting. Rainwater is collected and stored in tanks for later use from a variety of hard surfaces, including rooftops and other artificial aboveground hard surfaces. There are rainwater harvesting and collecting systems in many sizes and designs depending on the amount of rain fall. In purification systems, water is purified and stored for later use.

Australia Water Storage System Market - By End User

On basis of the end user, Australia water storage system market is divided into Municipal, Industrial, Commercial, and Residential segments. The municipal segment holds the highest share in the water storage systems market. In Australia, population growth and rapid urbanization have increased the demand for fresh drinking water. As a result, municipalities are using water storage systems more frequently. Increasing government programs to conserve water in response to a growing water shortage have encouraged municipalities to use water storage systems. During the forecast period, the residential segment is expected to experience the fastest CAGR growth. The market for water storage systems has grown as more residential consumers adopt plastic material-based water storage systems because of their high degree of flexibility and affordability.

Competitive Landscape

Major companies in Australia water storage system market include AG Growth International Inc., Aqua Nishihara Corporation Limited, Balmoral Group Holdings Ltd., Caldwell Tanks Inc., Containment Solutions Inc., CST Industries Inc., Dn Tanks Inc., Fiber Technology Corporation, McDermott International Inc., Sintex Plastics Technology Ltd., Snyder Industries LLC, and Tank Connection LLC. The key strategies used by these market leaders are new product launches, mergers & acquisitions, and alliances. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

Scope of the Report

By Material

• Concrete

• Metal

• Plastic

• Fiberglass

• Others

By Application

• Rainwater Harvesting and Collection

• Fire Suppression Reserve and Storage

• Portable Water Storage Systems

• On-Site Water and Wastewater Collection

• Hydraulic Fracture Storage and Collection

• Others

By End User

• Municipal

• Industrial

• Commercial

• Residential